Federal appeals court rules that New York can tax opioid makers

Federal appeals court rules that New York can tax opioid makers

Source: 
Jurist
snippet: 

The US Court of Appeals for the Second Circuit on Monday reversed a judgment that prevented New York state from collecting over $600 million from drug companies in its attempt to combat the ongoing opioid crisis.

The decision concerns New York’s Opioid Stewardship Act (OSA), which Governor Andrew Cuomo signed into law in 2018. The law requires opioid manufacturers and distributors to make annual payments to fund statewide opioid-related services “to address the substantial costs imposed by the national opioid public health crisis.”